Business
Alternate Health Announces Private Placement
Alternate Health Announces Private Placement.
About this update from Alternate Health Corp
[{"type":"text","content":"\n\n\n\nAlternate Health Announces Private Placement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nAlternate Health Announces Private Placement\nCanada NewsWire\nTORONTO, Jan. 29, 2019\n\n\n\nTORONTO, Jan. 29, 2019 /CNW/ - Alternate Health Corp., (\"Alternate Health\" or the \"Company\") (CSE:AHG) (OTCQB:AHGIF), an international leader in technology solutions for the regulated cannabis industry, wishes to announce that it is undertaking a non-brokered private placement (the \"Private Placement\") of unsecured convertible notes (the \"Notes\") under prospectus exemptions available under applicable securities legislation in the aggregate principal amount of up to CAD$12,000,000 (USD$9,000,000), maturing and payable on the date that is three years from the date of issuance (the \"Maturity Date\").  \n\n \n \n\n \nThe Notes will bear simple interest at a rate of 8.5% per annum. Interest will accrue and be payable on the Maturity Date. At the Noteholders' option, the Notes and accrued interest may be converted into common shares (the \"Shares\") at a price of CDN $0.65 Share if within one year of closing and $1.00 thereafter (the \"Conversion Price\"), subject to the policies of the Canadian Securities Exchange (the \"Exchange\"). \nThe private placement proceeds will assist in funding Alternate Health's expansion into California's adult-use cannabis industry, including key acquisitions. With licensed facilities in Los Angeles and Humboldt County, Alternate Health is actively marketing the Company's software to leading players in the industry. In addition to funding expansion opportunities in product distribution and CBD marketing, private placement proceeds will be used in Alternate Health's CanaPass business and for general working capital purposes. \n\"Our Company is hard at work, building relationships with strategic partners and evaluating lucrative acquisition opportunities in California,\" says Howard Mann, CEO of Alternate Health. \"Proceeds from this private placement ensure the rapid expansion of our products and technology in this exciting industry.\"\n...